Recap
Gentle reminder and a quick recap that we had a hot PPI data last Friday and the market had a mini sell off.
Towards the end of the trading hours, we did not see a spike, which means buyers weren’t stepping in.
It could be due to the long weekend and hence sellers came in to take profits (reduce risk). At the same time, it could also mean the weakness may continue into this week.
First hour of regular trading today could see whipsaw movements as the market finds its direction. Let it settle, and see if market can find its momentum during second half of the day.
All said, even if we found a direction today, the wild card for this week is still Nvidia’s earnings. Stay out today if you have to, unless you’re day trading
It could be due to the long weekend and hence sellers came in to take profits (reduce risk). At the same time, it could also mean the weakness may continue into this week.
First hour of regular trading today could see whipsaw movements as the market finds its direction. Let it settle, and see if market can find its momentum during second half of the day.
All said, even if we found a direction today, the wild card for this week is still Nvidia’s earnings. Stay out today if you have to, unless you’re day trading
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